looking for a breakout on the daily and decided to get in early. entered on a flag break intraday. stopped out.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-01-03 09:54:37 | ARIA | buy | $7.590 | long |
2014-01-03 09:54:37 | ARIA | buy | $7.590 | long |
2014-01-03 10:22:02 | ARIA | sell | $7.490 | 0 |
Hi Nape, yes I agree, should have definitely passed on this one. Why do you feel that the daily is extended when the stochastics are below 80 and the price is currently inside the Bollinger bands? I am interested to read your thoughts on this.
Mick, I got burned by this one, too, but I think Nape's point is that it was gapped up from the prior day, so it was already extended to begin with. The trend of the prior day was a gap up and slow decline all day, so it might follow that same pattern. Gap up, then trend downward.
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This was a pullback play that fail. Daily chart to extended. One you should have pass on.